It is also of note that PTSB offer retail USD bank accounts with no minimum balances. It might be handy for you to have a ROI USD bank account.
.The other option would be to use a laser card to draw money from your current account
Get the company to pay you in USD into your US account.
Would I need to have an Irish PTSB current account to open a RIO USD bank account?
I have a CIRRUS / Maestro laser card so this would be possible. I need to find out from AIB what the charges involved are. They could have gone up in price along with everything else!
We make our money on what is known as the "spread".
Indeed, xe conceals their commission in the spread, and they also conceal the spread itself by not showing the bid and ask, so traders have no way of knowing in advance what the cost of the trade will actually be.
Im not sure what you mean here. When i log on to XE Trade, i book the trade at the price listed, so the cost of trade is listed in advance. There are no costs for the user for EFT or Drafts
XE makes their money on the spread. But they don't show us the bid and ask prices, only the midmarket price.
Sorry, Im not familiar with these terms. Could you please explain.
When i make a trade, i book the quote at the exchange rate listed. The rate i book the trade on is locked in and thats the price i pay. I then transfer this via EFT to my US bank account for free, so where am i being charged for this service? It's not the exchange rate, because the rates they list are better than i would get in any bank.
I'm sure XE make some money other wise they wouldn't be providing the service, but i can not see how this is costing me?
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